UK Incomes Set for Record Drop

(Bloomberg) — Britons are about to experience a record drop in disposable incomes as Chancellor of the Exchequer Jeremy Hunt raises taxes and cuts spending to clean up an economy already in recession. The UK program represents the sharpest retrenchment in government spending since the austerity budgets set out after the global financial crisis. The … Read more

Fed’s Waller Says There’s a ‘Ways to Go’ Before Rate Hikes Done

Christopher Waller, governor of the US Federal Reserve, speaks during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. Federal Reserve officials this week gave their clearest signal yet that they’re willing to tolerate a recession as the necessary trade-off for regaining control of inflation.

Pound to Lead UK Market Suffering as BOE Flags Long Recession

The weak pound helped the FTSE 100 stock index, stacked with global exporters, to rally more than 4% this week. Still, the more domestically-focused FTSE 250 has consistently underperformed its large cap peer this year. According to Goldman Sachs Group Inc. strategists, it’s trading at the largest P/E discount against the MSCI World index since … Read more

Asian Stocks Edge Higher Before Central Bank Moves: Markets Wrap

Still, strategists including JPMorgan Chase & Co.’s Marko Kolanovic believe the Fed’s aggressive hiking is nearing an end, providing the prospect of relief for markets. The US will likely raise rates by 50 basis points in December and pause after one more 25-basis-point hike in the first quarter, he said. 

Jittery Stock Traders Eye Four Days That Will Sow Market’s Fate

The October jobs report, released Friday, is expected to show that the unemployment rate increased to 3.6% from 3.5%, edging up from a half-century low. Nonfarm payrolls growth is expected to tick down to 190,000 from 263,000 in September, but that would still indicate continued strength in the labor market.